Iran’s Minister of Labor and Social Affairs Ali Rabiei has said that around 1 million Iranians may lose their jobs due to the sanctions.

The actions follow President Donald Trump’s decision May 8 to withdraw the U.S. from the 2015 Joint Comprehensive Plan of Action (JCPOA) that world powers, including the U.S, struck with Iran. The agreement placed unprecedented curbs on Iran’s nuclear program, subjecting it to a rigorous inspection regime in exchange for billions of dollars in relief from international sanctions.

A second wave of sanctions is set to take effect Nov. 5, targeting Iran’s port operators, petroleum-related transactions, and Iran’s shipping sector and central bank.